CryptoLogic Announces Launch ...
MAY 30, 2002 - 08:45 EDT
CryptoLogic Announces Launch Of Bingo And Release Of
German-, Spanish- And Japanese-Language Casino Software;
New Products Broaden Licensee Market Penetration And
Appeal Worldwide
TORONTO, ONTARIO--CryptoLogic Inc., a leading software supplier to
the Internet gaming and e-commerce industries, is pleased to
announce that it has again broadened its slate of industry leading
gaming software with the launch of CryptoLogic Bingo and the
release of German, Spanish and Japanese versions of its
dowloadable casino software.
CryptoLogic Bingo
CryptoLogic has put a brand new face on an age old favourite with
the announcement that Bingo is now live with its first licensee,
InterBingo (www.interbingo.com). CryptoLogic Bingo has an upscale
look-and-feel that sets it apart in the marketplace and has won
rave reviews with testers and licensees alike.
"A great deal of effort has gone in to creating a product that
gives Bingo a fresh new look that we're confident will have broad
market appeal," said Jean Noelting, President and CEO.
"CryptoLogic Bingo represents the next phase in our strategy of
leadership in a broad range of vertical gaming markets to meet the
needs of licensees and players looking for a variety of
entertainment options."
Emulating the traditional 75-number Bingo game played in Bingo
halls around the world, CryptoLogic Bingo offers five
play-for-money halls and one play-for-fun hall, with themes
customizable to the preference of each licensee.
Backed by the Company's proven technological excellence,
CryptoLogic Bingo offers all the features of a live bingo hall and
more, including a Card Minder option to help players keep track of
their card strips, and AutoDab that allows the computer to dab
players' cards for them.
Localized Casino Products
In line with its strategy of creating market-driven products,
CryptoLogic is pleased to announce the expansion of language and
currency support in its Version 4 Plus casino software. Now
available are localized versions in German for play in euros,
Spanish for play in euros or US dollars and Japanese for play in
US dollars. Chinese, French and Italian versions are currently in
development, and are scheduled for release later this year.
"As the popularity of Internet gaming grows around the world,
players are becoming more discerning, and demand the ability to
play in the language and currency of their choice," Noelting
added. "CryptoLogic's localization initiatives provide licensees
with the tools they need to help grow their businesses in markets
around the world."
Annual Meeting of Shareholders
As a reminder, CryptoLogic's Annual and Special Meeting of
Shareholders will be held today, May 30, 2002, at 4:30 p.m.
Toronto time at the Sheraton Centre Toronto Hotel, Essex Ballroom,
Mezzanine Level, 123 Queen Street West, Toronto, Ontario.
The event will also be available via live webcast. The webcast can
be accessed using either Real Player or Windows Media Player by
clicking on Investor Information at www.cryptologic.com, or by
visiting https://webevents.broadcast.com/cnw/cryptologic20020530. A
rebroadcast of the webcast will be available for 90 days.
About CryptoLogic
CryptoLogic Inc. is the leading software development company
serving the Internet gaming market. The company's proprietary
technologies enable secure, high-speed financial transactions over
the Internet. CryptoLogic continues to innovate and develop
state-of-the-art Internet software applications for both the
electronic commerce and Internet gaming industries. WagerLogic, a
wholly-owned subsidiary of CryptoLogic, is responsible for the
licensing of its gaming software and services to customers around
the world.
CryptoLogic's common shares trade on the Toronto Stock Exchange
under symbol the CRY and on the Nasdaq National Market under the
symbol CRYP. There are currently 12.1 million common shares
outstanding (14.5 million shares fully diluted). For more
information, visit www.cryptologic.com and www.wagerlogic.com.
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
Statements in this press release which are not historical are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that all forward-looking statements
involve risks and uncertainties including, without limitation,
risks associated with the Company's financial condition and
prospects, legal risks associated with Internet gaming and risks
of governmental legislation and regulation, risks associated with
market acceptance and technological changes, risks associated with
dependence on licensees and key licensees, risks relating to
international operations, risks associated with competition and
other risks detailed in the Company's filings with securities
regulatory authorities. These risks may cause results to differ
materially from those projected in the forward-looking statements.
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Todays conference call is going to be interesting, I believe.
Good luck to all